P&G to buy Sara Lee's air care business

By IBT Staff Reporter On 12/11/09 AT 10:53 AM

NEW YORK - Procter & Gamble Co (PG.N) said Friday it will buy Sara Lee's (SLE.N) air care business Ambi Pur for $470 million in a bid to expand its portfolio in the air freshener area and its geographic footprint in Europe and Asia.

Procter & Gamble said it does not expect the deal to have a material impact on its results in fiscal 2010.

It expects the deal to close in the current fiscal year, which ends on June 30.